4880 Key Level to Watch on May 14 - Inder Bhatia

Hourly Chart: The Indian market closed in the deep red after opening on a strong note, backed by positive global cues. Markets tumbled down in the afternoon session, and Nifty was unable to cross our key levels of 5078. The Nifty is near major trendline and near the 200 SMA on the hourly chart. If nifty breaks 4910-4900, we could test 4880 to 4830 levels . On the upper side, Nifty could see 5023-5078, which would act as a resistance zone. Key level to watch is 4880.